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NCM

Nantahala Capital Management Portfolio holdings

AUM $2.72B
1-Year Est. Return 121.58%
This Fund
S&P 500
This Quarter Est. Return
-0.9%
1 Year Est. Return
+121.58%
3 Year Est. Return
+308.64%
5 Year Est. Return
+308.9%
10 Year Est. Return
+2,888.73%
AUM
$2.72B
AUM Growth
-$309M
Cap. Flow
-$128M
Cap. Flow %
-4.71%
Top 10 Hldgs %
40.44%
Holding
175
New
22
Increased
46
Reduced
28
Closed
23

Top Buys

Rank Stock Value
1
PTON icon
Peloton Interactive
PTON
+$29.6M
2
MLYS icon
Mineralys Therapeutics
MLYS
+$22.9M
3
CWH icon
Camping World
CWH
+$22.7M
4
VSTM icon
Verastem
VSTM
+$19.3M
5
TBBK icon
The Bancorp
TBBK
+$18.5M

Top Sells

Rank Stock Value
1
TNGX icon
Tango Therapeutics
TNGX
+$32.3M
2
EB
Eventbrite
EB
+$30.5M
3
IWM icon
iShares Russell 2000 ETF
IWM
+$30.2M
4
RAPT
RAPT Therapeutics
RAPT
+$25.5M
5
GMED icon
Globus Medical
GMED
+$19.6M

Sector Composition

Rank Sector Weight
1 Healthcare 36%
2 Consumer Discretionary 9.68%
3 Financials 3.92%
4 Communication Services 2.8%
5 Industrials 1.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RVMD icon
101
Revolution Medicines
RVMD
$40B
$4.86M 0.18%
+50,000
New +$5.05M
NDLS icon
102
Noodles & Co
NDLS
$85M
$4.73M 0.17%
553,746
+38,157
+7% +$226K
ABEO icon
103
CALL
Abeona Therapeutics
ABEO
$349M
$4.57M 0.17%
1,020,000
+500,000
+96% +$2.5M
IKT icon
104
Inhibikase Therapeutics
IKT
$369M
$4.54M 0.17%
2,701,863
-1,227,429
-31% -$2.18M
CZR icon
105
Caesars Entertainment
CZR
$6.1B
$3.96M 0.15%
+150,000
New +$3.57M
FORR icon
106
Forrester Research
FORR
$185M
$3.93M 0.14%
+694,422
New +$4.75M
QURE icon
107
uniQure
QURE
$2.63B
$3.88M 0.14%
237,078
-462,220
-66% -$9.36M
STKS icon
108
The ONE Group
STKS
$58.1M
$3.78M 0.14%
2,121,084
– –
CHYM
109
Chime Financial
CHYM
$8.33B
$3.75M 0.14%
+200,000
New +$4.53M
UPB
110
Upstream Bio Inc
UPB
$348M
$3.6M 0.13%
400,000
-94,971
-19% -$1.71M
NNBR icon
111
NN Inc
NNBR
$273M
$3.54M 0.13%
2,441,416
– –
GRCE
112
Grace Therapeutics
GRCE
$37.4M
$3.37M 0.12%
728,203
-450,000
-38% -$1.77M
CGON icon
113
CG Oncology
CGON
$6.48B
$3.35M 0.12%
49,449
-60,000
-55% -$3.4M
ELUT icon
114
Elutia
ELUT
$42.5M
$3.34M 0.12%
3,184,947
– –
XNCR icon
115
Xencor
XNCR
$1.47B
$3.19M 0.12%
264,639
+100,000
+61% +$1.24M
TELA icon
116
TELA Bio
TELA
$29.1M
$3.19M 0.12%
5,144,114
+32,526
+0.6% +$28.2K
ARVN icon
117
Arvinas
ARVN
$530M
$3.18M 0.12%
300,000
– –
KIDS icon
118
OrthoPediatrics
KIDS
$509M
$3.17M 0.12%
199,449
– –
COOK icon
119
Traeger
COOK
$170M
$2.97M 0.11%
+102,408
New +$4.33M
AYTU icon
120
AYTU BioPharma
AYTU
$22.1M
$2.97M 0.11%
1,086,812
– –
SRL icon
121
Scully Royalty
SRL
$78.6M
$2.88M 0.11%
368,182
– –
IMUX icon
122
Immunic
IMUX
$188M
$2.78M 0.1%
250,649
-187,192
-43% -$1.68M
AKBA icon
123
Akebia Therapeutics
AKBA
$343M
$2.78M 0.1%
2,000,000
– –
RLYB icon
124
Rallybio
RLYB
$86.6M
$2.7M 0.1%
+300,635
New +$2.06M
IRON icon
125
PUT
Disc Medicine
IRON
$2.85B
$2.62M 0.1%
+41,000
New +$2.85M
3 4
5
6 7

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MASUI
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BCM
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Nantahala Capital Management's Q1 2026 Portfolio in Review

As of Q1 2026, Nantahala Capital Management held 175 positions worth $2.72B, down 10% from $3.02B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Nantahala Capital Management withdrew a net $128M in Q1 2026, closing 23 positions and reducing 28 holdings. Its most notable exit was Eventbrite, an estimated $30.5M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 36% of assets, up from 34% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Nantahala Capital Management opened a new position in AgomAb Therapeutics NV worth $12.9M.

  • Nantahala Capital Management's largest Q1 2026 buy was AgomAb Therapeutics NV: 1,200,000 shares worth $12.9M.
  • Nantahala Capital Management added most to Peloton Interactive in Q1 2026, an estimated $29.6M increase.
  • Nantahala Capital Management's biggest Q1 2026 reduction was Tango Therapeutics, cutting an estimated $32.3M.
  • Nantahala Capital Management fully exited Eventbrite in Q1 2026, selling an estimated $30.5M.
  • Nantahala Capital Management's ten largest holdings make up 40% of its $2.72B portfolio in Q1 2026.
  • Nantahala Capital Management opened 22 new positions and closed 23 in Q1 2026.
  • Nantahala Capital Management's portfolio value fell 10% quarter-over-quarter to $2.72B.

Based on Nantahala Capital Management's 13F filing for Q1 2026, filed 15 May 2026.